Mill Closure Announced for Adams Lake

By 250 News

 International Forest Products has announced it is shutting down its  Adams Lake sawmill indefinitely.

The closure of the mill ,which is located on Adams Lake north of Kamloops, will throw about 200 people out of work .

Company officials could not be reached as to what those employees will receive by way of severance. 

The mill will close November 12^th.  This c losure may  not  be the last, as  investment analyst Paul Quinn of Salman Partners says more mills must close. 

In the US, lumber mills have been ramping up their production as Canadian wholesalers are purchasing US lumber for sale in Canada because of the value of the dollar.

Tolko will shut its Quesnel mill down from November 13^th to 23^rd, sighting poor markets, the high Canadian dollar and the US housing market. Canfor has announced   downtime as well, and says the curtailments will reflect the  market. 

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